Sat Apr 15 2006 23:25:
Rainer Böhme sent me a copy of his stock spam paper, which is really interesting (I'll link to it when it's put up publicly). It demonstrates two results I found interesting: on average, stock spam does increase the price of a stock, but the effect decays and after four days the stock price is lower than before. Second, the greater the volume of spam you send, the bigger the effect.

Entering the realm of speculation, there's also an indication that stock spam actually destroys wealth by reducing the capitalization of the spammed companies over the long-term (though maybe the wealth just leaves the stock market and goes into the spammers' pockets). Also includes a movie-plot scenario where spammers use the techniques of stock spam to start runs on banks. An entertaining paper. And it mentions me, which is awesome.